More affordable homes to be built after cash injection

More affordable homes are to be built in Bracknell after the borough received £1.4 million under the Government’s New Homes Bonus programme.

More affordable homes are to be built in Bracknell after the borough received £1.4 million under the Government’s New Homes Bonus programme.

The borough has received a further boost with the confirmation of £10.8 million in government funding, known as Growing Places, for the Thames Valley Berkshire Local Enterprise Partnership, of which Bracknell Forest Council is a member.

The partnership is made up of local businesses and councils in the Thames Valley area working to boost business and communities by improving facilities such as transport, broadband and skills of the workforce.

The two pots of cash will be used to get projects off the ground and improve local areas.

Steve Lamb, chairman of Thames Valley Berkshire Local Enterprise Partnership (TVB LEP) and senior director at Oracle, said: “This injection of funds will help us to be more innovative, productive and attractive for business as we focus on building the infrastructure and businesses that will sustain the area for the next 30 years.

“The Growing Places Fund will certainly help us to make capital infrastructure investments.

“We are looking to create a balanced portfolio where housing schemes, transport and other infrastructure projects will all be considered.

“We will provide a small proportion of the fund to develop innovative and creative projects that stimulate economic growth or promote employment.”

The bonus includes an extra reward for building new affordable homes, and for getting long-term empty homes back into use.

Dr Lee commented: “Labour led Britain into a housing crisis – the number of affordable homes fell, waiting lists almost doubled and first-time buyer numbers collapsed to their lowest level for a generation.

“House building is already up a quarter under the Coalition Government, but there is more to do. I am delighted to welcome this funding for new homes in Bracknell.

“The Government’s actions will help local people on to the housing ladder, provide more affordable housing and create local jobs.”

Taken together, the allocations of the Growing Places and New Homes Bonus funding totals nearly £1 billion for councils across the country.